U.S. Sen. Dick Durbin (D-Ill.) and U.S. Rep. George Miller (D-Calif.) expressed their concern this week over debit card agreements between financial institutions and universities.
The two sent letters on Thursday to Education Secretary Arne Duncan, Department of Education Inspector General Kathleen Tighe and Consumer Financial Protection Bureau Director Richard Cordray, urging them to carefully examine bank-affiliated student debit card practices at more than 900 colleges and universities.
The letters were prompted by a report released last week from the U.S. Public Interest Research Group Education Fund. According to the report, more than 9 million students are potentially subject to numerous fees as a result of agreements between their college or university and a financial institution.
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